Business Wire

IFF Launches ESG 2030 ‘Do More Good Plan’

Share

IFF (NYSE:IFF) today announced its environmental, social and governance (ESG) roadmap for the combined Company. The 2030 ‘Do More Good Plan’ (the Plan) includes ambitious targets that are aligned with IFF’s purpose of applying science and creativity for a better world.

“With our Do More Good Plan, we are taking another bold step in our aspirations to do more for people, planet and product,” said Andreas Fibig, IFF Chairman & CEO. “Ten years ago, when we formalized our sustainability program, we knew the journey would lead us to being even better partners with our customers, communities and stakeholders. To date, our efforts have achieved ratings above industry standards and have had real impact throughout our value chain. Today, we are going further. With this Plan, we are embedding even more ambitious targets, in our operations and partnerships, to address the urgent issues that affect our world.”

The Plan comprises four key areas:

1. Environmental

To support environmental stewardship across its operations, IFF will accelerate its commitment to climate action by setting new science-based ambitions to reduce greenhouse gas emissions (GHGs) by 50% below 2021 levels by 2030; to achieve net zero GHGs by 2040; and to be net positive by 2050.1 By 2030, IFF will also verify zero waste to landfill, including plastics minimization, for all major manufacturing facilities, and champion water stewardship solutions within its operations. Additionally, the Company commits to accelerating its responsible sourcing practices by promoting regenerative ecosystems and achieving zero deforestation for strategic raw material supply chains by 2030, beginning with palm, soy and wood.

2. Social

Aligned with its social responsibility targets, IFF is advancing its commitment to people and communities. Milestones include strengthening diversity, equity & inclusion within its workforce by having 40% people of color in management roles in the United States by 2030, with equitable representation in other markets globally; and aiming for greater gender balance with women holding 50% of all management roles, companywide. IFF is also committed to continuously improving its safety program by striving for an injury-free workplace, and achieving world-class safety performance. Within its responsible sourcing program, the Company will continue to promote human rights and animal welfare, while supporting farmers’ livelihoods and ensuring prosperous and equitable value chains.

3. Governance

To enhance accountability in line with evolving stakeholder expectations, the Company will launch ESG metrics tied to executive compensation and will expand oversight for ESG at the Board of Directors level. IFF remains on track to increase its transparency in disclosures and key performance indicators.

4. Sustainable Solutions

IFF will assist its customers in achieving their own ESG goals by delivering an expanded suite of sustainable solutions for the market. With this focus on sustainable growth, IFF intends for all new innovations to have a sustainability value proposition that supports people and planet with health & wellbeing products, solutions for sustainable food systems and circular economy strategies. As one of its climate action aspirations, the Company aims to enable customers and consumers to save at least 50 times more CO2e than generated at IFF’s own manufacturing sites by providing innovation solutions such as sustainable proteins as well as enzymes solutions which enable food waste reduction and energy savings.

“Our purpose is inextricably tied to securing a better, more sustainable world,” said Dr. Greg Yep, EVP, Chief Research & Development, Global Integrated Solutions and Sustainability Officer. “This Plan is designed to build on our long-standing commitments to people and planet while showcasing our strengths in science, technology and innovation. As a next step, we are operationalizing these ambitions and their action plans across our divisions and functions so that, together, we will achieve our goals and hold ourselves accountable in meaningful and measurable ways.”

Today’s announcement builds on IFF’s track record of ESG accomplishments, including the following:

2021

  • CDP “A” list designation for climate change, water security and forests.
  • Dow Jones Sustainability Indices placement, 2nd consecutive year.
  • Best Place to Work for LGBTQ Equality award, 3rd consecutive year.
  • Best Place to Work for Disability Inclusion award, 2nd consecutive year.

2020

  • Economic Dividend for Gender Equality (EDGE) recognition for being the first company to earn Move level certification, globally.

To learn more about IFF’s Do More Good Plan, please visit iff.com/responsibilities/strategy-reporting and refer to IFF’s forthcoming 2021 sustainability report.

Welcome to IFF

At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.

_____________________________________
1
Pending finalization and approval by the Science Based Targets Initiative

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Michael DeVeau
Chief Investor Relations & Communications Officer
212.708.7164
Michael.DeVeau@iff.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

causaLens Raises $45m Series A to Scale Human-centered AI That Understands Cause-and-effect28.1.2022 15:46:00 CET | Press release

causaLens, the London deep tech company delivering the future of AI, has raised a $45m Series A round. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220126005888/en/ The causaLens co-founders, Dr. Maksim Sipos, CTO, on the left, and Dr. Darko Matovski, CEO, on the right. (Photo: Business Wire) causaLens is the pioneer of Causal AI - the only AI technology quantifying cause-and-effect relationships to reason alongside humans in a manner that is trustworthy, explainable, and fair. Causal AI represents a giant leap ahead of current correlation-based AI technologies, which blindly extrapolate historical data and are unable to ask counterfactual questions — the ‘what ifs’ at the core of human imagination and creativity. causaLens’s no-code platform delivers far more accurate and reliable results, and allows humans and machines to work together for the first time. It is trusted by decision makers across finance, industry, technol

Monrol Signing Agreement to License its GMP Grade Lu-177 n.c.a Production Technology to Curium28.1.2022 13:47:00 CET | Press release

Eczacıbaşı-Monrol Nuclear Products Co. (Monrol) has today announced it has signed an agreement with Curium Netherlands B.V (Curium) to license its GMP grade medical radioisotope, no-carrier-added 177Lu (n.c.a. 177Lu) cutting-edge production technology LuMagic®. This agreement will enable transfer of relevant equipment and supply from Monrol to Curium. Monrol is one of the few producers of Lutetium-177 n.c.a worldwide, having uninterrupted worldwide supply capabilities. Monrol Lu-177 n.c.a production process is an exclusive processing technology having cleaner and safer production method with stable isotope enrichment capability. Curium planning to manufacture the product Lu-177 n.c.a in its Petten production facility, Netherlands. This licence is offering significant opportunities both for Curium; one of the world’s largest nuclear medicine companies and Monrol; a company which develops, manufactures, and distributes world-class radiopharmaceutical products, radioisotopes to improve qu

CHMP issues positive opinion to expand Jardiance (empagliflozin) indication based on unprecedented benefit in adult heart failure patients with preserved ejection fraction28.1.2022 13:26:00 CET | Press release

The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has granted a positive opinion recommending Jardiance® (empagliflozin) for the treatment of adults with symptomatic chronic heart failure, Boehringer Ingelheim and Eli Lilly and Company announced today.1 Empagliflozin was previously approved for the treatment of adults with symptomatic chronic heart failure with reduced ejection fraction (HFrEF).4 If approved, the positive opinion would expand this indication to be applicable for adults across the full spectrum of left ventricular ejection fraction (LVEF), including preserved ejection fraction (HFpEF). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220127005861/en/ “For the very first time, we now have a treatment that will improve clinical results across the full spectrum of heart failure patients – regardless of ejection fraction,” said Professor Stefan Anker, Heart Failure Car

Schlumberger DELFI Digital Platform Selected by Northern Lights JV for CO 2 Project28.1.2022 13:00:00 CET | Press release

Schlumberger will deploy the DELFI* cognitive E&P environment on the Norwegian CO2 project by the Northern Lights Joint Venture (NL), to streamline subsurface workflows and longer-term modeling and surveillance of CO2 sequestration. NL was established to develop the world’s first open-source CO2 transport and storage infrastructure, providing accelerated decarbonization opportunities for European industries, with an ambition to store up to 5 million tonnes of CO2 per year based on market demand. For CO2 transportation and storage, Schlumberger digital solutions are used for subsurface characterization and dynamic reservoir simulation, which are key to understanding storage site capacity and the potential for injecting and containing fluids. They are also used for development planning, operations, appraisals, and monitoring purposes. “Northern Lights has recognized the huge potential of Schlumberger’s digital technology to fast-track decision making and de-risk CO2 transportation and st

Pixis Appoints Neel Pandya as the CEO for Europe Business, in Addition to APAC28.1.2022 12:28:00 CET | Press release

Pixis (formerly known as Pyxis One), a leading provider of contextual codeless AI infrastructure for complete marketing optimization, today appointed Neel Pandya as the Chief Executive Officer of its operations in Europe, in addition to his responsibilities of leading the APAC business. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220128005166/en/ Neel Pandya joined Pixis as the CEO of APAC in its Bengaluru office after exiting L'Oréal. (Photo: Business Wire) Neel joined Pixis in its Bengaluru office in July 2021 as the CEO of APAC, bringing immense change and progress to the way Pixis operates, and greatly streamlining expansions in the APAC region. Under his leadership, Pixis witnessed a 185% growth in revenue in the APAC region, with India independently recording a 150% of growth. Over the last 7 months, in addition to greatly stabilizing customer churn Neel has also been instrumental in adding close to 30 new enterpris

'True Stories of Investing' - flatexDEGIRO drives financial education with high-quality documentation28.1.2022 10:48:00 CET | Press release

With "True Stories of Investing", flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR), Europe's largest and fastest-growing retail online broker collaborates with award-winning documentary maker, New Amsterdam, and Discovery, to demystify investing. The documentary premieres on Discovery's channels across Europe starting this weekend and showcases important lessons every retail investor needs to know. In four episodes, renowned journalists, professors, behavioral scientists and investors challenge some of the biggest misconceptions about investing by examining historical events and the mechanisms at work. Frank Niehage, CEO of flatexDEGIRO: "It is our mission to retailise capital markets and empower private individuals to invest in a self-determined and sustainable way. As Europe's leading online broker, we feel responsible for making trading more simple, more informed, and more secure for our customers. With this innovative documentary, we take financial education one st

SoftBank Group Announces Management Transition28.1.2022 05:08:00 CET | Press release

SoftBank Group Corp. (“SoftBank”) today announced that the company and Marcelo Claure have mutually agreed to part ways after a successful nine-year partnership. In conjunction with Mr. Claure’s departure, Michel Combes has been appointed as CEO of SoftBank Group International (“SBGI”). In this position, he will oversee SoftBank Group International’s operating and investment portfolio*. Masayoshi Son, Representative Director, Corporate Officer, Chairman & CEO of SoftBank Group Corp., said, “Marcelo has made many contributions to SoftBank during his time here and we thank him for his dedication and wish him continued success in his future endeavors. I have great confidence in Michel Combes and the talented SoftBank team to continue with the great work we have underway at SBGI.” Mr. Claure said, “I will forever be grateful for my experience at SoftBank over the last nine years. I have had the opportunity to collaborate with some of the world’s great executives and entrepreneurs, and tack